The digital transformation market is projected to grow from USD 205.99 billion in 2017 to USD 493.39 billion by 2022, at a CAGR of 19.1% during the forecast period. Factors such as innovation in businesses, changing customer preferences, the rapid proliferation of mobile devices & apps, increasing penetration of IoT, and growing adoption of the cloud platform are expected to drive the digital transformation market. Security and privacy concerns for confidential data can restrain the growth of the market.

"Based on component, the solution segment is estimated to lead the digital transformation market in 2017"Based on component, the solution segment is estimated to lead the digital transformation market in 2017. The growth of this segment can be attributed to the increasing need for cloud computing, big data & analytics, mobility, disruptive technology, and social media.

"Based on deployment type, the cloud segment is estimated to lead the digital transformation market in 2017"Based on deployment type, the cloud segment is estimated to lead the digital transformation market in 2017 due to easy deployment, low deployment cost, and easy upgradeability and accessibility. The cloud-based deployment type enables easy access to data from desktops or any mobile device and provides various cost-saving benefits.

"Based on end user, the enterprises segment is estimated to lead the digital transformation market in 2017"Based on end user, the enterprises segment is estimated to lead the digital transformation market in 2017, as enterprises increasingly opt for digital transformation solutions to improve their business process model and enhance their revenue.

"Based on vertical, the BFSI segment is estimated to lead the digital transformation market in 2017"Based on end user, the BFSI (banking, financial services & insurance) segment is estimated to lead the digital transformation market in 2017. The BFSI vertical incorporates high-end digital technology to make transactions secure, simple, and error free. Furthermore, the development of financial services and technologies, such as mobile banking applications, omnichannel banking, and digital banking analytics enables customers to streamline and automate digital banking operations, thus leading to the increased adoption of digital transformation in the BFSI sector.

"The Asia Pacific digital transformation market is projected to grow at the highest CAGR during the forecast period"The digital transformation market has been studied for North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The Asia Pacific region has been widely implementing digital transformation solutions to significantly to improve and streamline business processes and facilitate informed business decision making. Rising number of mobile device users, increasing use of social media analytics, and growing online commerce are some of the factors expected to fuel the growth of the digital transformation market in this region In-depth interviews were conducted with chief executive officers, marketing directors, innovation & technology directors, and executives from various key organizations operating in the digital transformation marketplace. - By Company Type: Tier 1: 45%, Tier 2: 30%, and Tier 3: 25% - By Designation: C-Level: 35%, Director Level: 40%, and Others: 25% - By Region: North America: 42%, Europe: 25%, Asia Pacific: 23%, and RoW: 10%

Research CoverageThe digital transformation market has been segmented on the basis of component, deployment type, end user, vertical, and region. Based on component, the digital transformation market has been segmented into solution and service. The solution segment has been further subsegmented into cloud computing, big data & analytics, mobility, disruptive technology, and social media; and the service subsegmented into professional services and system integration.

Based one deployment type, the market has been segmented into on-premise and cloud. Based on end user, the market has been segmented into enterprises and SMBs. Based on vertical, the market has been segmented into BFSI (banking, financial services & insurance), healthcare, telecom & IT, automotive, education, retail & consumer goods, media & entertainment, manufacturing, government, and others (transportation, defense, aviation, and hospitality). The digital transformation market has been studied for North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.

Key Benefits of Buying the Report:The report will help market leaders and new entrants in the digital transformation market in the following ways:The report will help market leaders/new entrants in this market by providing them the closest approximations of revenues of the digital transformation market and its subsegments. This report will also help stakeholders better understand the competitor landscape, gain more insights to better position their businesses, and implement suitable go-to-market strategies. The report will help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.

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